Sarah A. Colucci, York Region's Mortgage Expert. Savings Guaranteed.
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"Purchase Plus Improvements" Program

Borrow up to an additional $60,000 to renovate your home, even if you have less than 20 percent down!
APPLY FOR PURCHASE PLUS IMPROVEMENTS MORTGAGE

Purchase Plus Improvements Program: Fund The Cost Of Renovations With Less Than 20 Percent Down

If you are looking to get into your new home or condo but need some work done, the purchase plus improvements mortgage might be just the solution. It allows buyers to borrow up to $60,000 that they can spend on renovations to be completed within the first 90 days of moving into their home. 

Here's how the program works:

Even if you have less than a 20 percent down payment, you could still qualify for the additional funds. Let's say you are approved for the maximum "purchase-plus improvement" amount of $60,000. In this case, you will have to front the costs of renovations, and then once completed within 90 days of moving in–and verified by a home inspection – your real estate lawyer will release the funds to you. Your total mortgage loan will now include the $60,000 that was given to you for the renovations! 

The "Purchase-Plus Improvement" program is an excellent option for those borrowers who want to renovate their home, but don't have more than a 20 percent down payment or don't have additional funds to renovate, and want to borrow them at the lowest interest rate possible. 

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Address

411 Queen St. 
Newmarket, ON
​L3Y 2G9

Sarah A. Colucci, Mortgage Agent Lic. M14000929
Sherwood Mortgage Group
Licence # 12176

Telephone

Direct: 647-773-4849
​
Email: scolucci@sherwoodmortgagegroup.com
Picture
  • Home
  • WHY USE SARAH FOR YOUR NEXT MORTGAGE
  • APPLY ONLINE
  • PRODUCTS
    • Free House Value Tracker Report
    • CASH-BACK MORTGAGE
    • BRIDGE FUNDS
    • REVERSE MORTGAGES
    • SELF-EMPLOYED MORTGAGES
    • FIRST-TIME HOME BUYER PRE-APPROVALS >
      • FIRST-TIME HOME BUYER TAX CREDIT
    • MORTGAGE REFINANCE >
      • Prepayment penalties
    • SPOUSAL BUYOUTS
    • INVESTMENT PROPERTIES AND RENTALS
    • BRUISED CREDIT
    • PRE-APPROVALS
    • NEWCOMERS
    • DEBT CONSOLIDATION
    • HOME EQUITY LINE OF CREDIT
    • PURCHASE PLUS IMPROVEMENT PROGRAM
    • WHY INVEST IN REAL ESTATE
    • MORTGAGE RENEWALS >
      • New Mortgage Rules and Mortgage Renewals
    • SECOND MORTGAGE LOANS
    • LESS THAN 20% PROPERTIES
    • DOWN PAYMENT
  • CONTACT ME
  • PRIME RATE CANADA
  • CLOSING COSTS
  • DOCUMENTS REQUIRED FOR MORTGAGE FINANCING
  • MORTGAGE DICTIONARY
  • MORTGAGE NEWS
  • GOVERNMENT MORTGAGE RULES
  • MORTGAGE TIPS
  • HOUSE HUNTING CHECKLIST
  • APPRAISALS
  • FIXED OR VARIABLE RATE?